India became the third-most preferred global destination for fintech investments last year, behind only the United States and the United Kingdom.
Fintech investments in India nearly doubled to USD 3.7 billion in 2019 from USD 1.9 billion the previous year, according to a joint report by Accenture and CB Insights, a global venture-finance data and analytics firm. The number of deals was up slightly to 198 last year from 193 in 2018.
Payments companies were the most lucrative funding choices as capital into these more than tripled to USD 2.1 billion from about USD 660 million in 2018. Funding to India’s nascent insurtech sector also climbed 74% to $510 million during that period.
Source: Economic Times